Cryptocurrencies Market Overview - February 22 - Bitcoin drops below $10K again

Welcome to my Cryptocurrencies Market Overview for Thursday, February 22, 2018.

Today in the news:

• Bitcoin drops below $10K again as almost all cryptocurrencies are priced in the red today.
• Venezuela said it is preparing the launch of a gold-backed cryptocurrency after the presale of the Petro.
• Following in the footsteps of Venezuela, Iran is hinting it may release its own cryptocurrency.
• The UK Treasury has launched an inquiry into cryptocurrencies and blockchain technology.
• And more crypto news below...

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Latest Crypto News - February 22, 2018

Bitcoin Drops Below $10K as Crypto Markets Dip

Signs of bull market exhaustion in the bitcoin market may be having a knock-on effect across cryptocurrencies in general. All of the top 100 cryptocurrencies by market capitalization - bar nano, dentacoin and tether - are in the red today, according to CoinMarketCap data.
_{Read more: www.coindesk.com}

More sources about Bitcoin's price:

• Bitcoin just fell below $10000 — again

Venezuela Preps Gold-Backed Cryptocurrency in Petro Wake

Fresh from the presale of its oil-backed cryptocurrency Petro, which generated $735 million on the first day for the struggling economy, Venezuela is planning to launch a gold-backed digital currency token.
_{Read more: cryptovest.com}

Other sources:

• After Releasing Oil-Backed Petro, Venezuelan President Hints At Gold-Backed ‘Petro Oro’

Confirmed: Bitfinex Exchange Has Account On Dutch ING Bank

Dutch financial group ING (INGA.AS) has confirmed that Bitfinex, one of the world’s largest Bitcoin exchanges by daily trading volume, has a bank account with them in the Netherlands, Reuters reported Tuesday, Feb. 20.
_{Read more: cointelegraph.com}

Islamic Republic of Iran to “Control and Prevent” Growth of Cryptocurrencies

The Islamic Republic of Iran has apparently changed course on cryptocurrency, or perhaps it has clarified its real position previously mischaracterized by the press. It’s increasingly difficult to get a real handle on the official status of crypto in the Persian homeland.
_{Read more: news.bitcoin.com}

Other sources:

• Iran Central Bank Wants To ‘Control And Prevent’ Cryptocurrency, Local Press Reports
• Iran Backpedals on Bitcoin, Plans its Own State Cryptocurrency
• Iran Hints it Might Release a National Cryptocurrency Too

Bitwise's Hougan Calls Bitcoin Multitrillion Dollar Opportunity

Bitwise Asset Management Vice President of Research and Development Matt Hougan discusses leaving the ETF industry and moving into cryptocurrencies. He speaks on "Bloomberg Markets."
_{Read more: www.bloomberg.com}

Other sources:

• Cheap Bitcoin Transactions And SegWit On A Roll

Bitcoin exchanges add tech to make transactions 20% cheaper

Two of the biggest cryptocurrency exchanges are aiming to make bitcoin transactions faster and cheaper with a new software update announced this week. Both Coinbase and Bitfinex said they are adopting a software called SegWit, which bitcoin bulls and one exchange say should lower fees by as much as 20 percent while speeding up transactions.
_{Read more: www.cnbc.com}

UK Treasury Launches Inquiry Into Cryptocurrency

The U.K. Treasury has today announced that it will conduct an inquiry into issues around cryptocurrencies and blockchain technology.
_{Read more: www.coindesk.com}

Other sources:

• UK Treasury Committee To Examine Crypto’s Effect On UK Businesses, Investors
• Bitcoin: MPs launch inquiry into digital currencies

Russian Authorities Criticized over Proposed Crypto Regulation

Criticism aimed at authorities and the new legislation on “digital financial assets” is mounting in Russia. Local officials have rebuked lawmakers in the capital over slow progress, warning that the country will have to catch up with others. Experts from the crypto sector have expressed concerns about many unresolved issues in the proposed legal framework. Russian deputies are preparing to introduce two drafts on cryptocurrencies and crowdfunding, while more than 50 other digital economy bills are pending in parliament.
_{Read more: news.bitcoin.com}

Litecoin Cash Has Forked But It's Hardly Trading

Call it a slow start. A plan to launch a new cryptocurrency by forking the litecoin blockchain went off without a major technical hitch over the weekend, but at press time, the market isn't exactly embracing the new coin.
_{Read more: www.coindesk.com}

'Anonymous Sources’: Telegram Launches ‘Secret’ Second Presale, $850 Mln To Be Raised

Encrypted messenger service Telegram is reportedly raising a further $850 mln in a “secret second presale” of its TON token before launching the yet to be officially announced world’s biggest ICO. As Verge reports citing “exclusive” reports from four anonymous sources, Pavel Durov’s platform is attempting to get accredited investors on board to double the $850 mln it already received in the ‘first’ presale.
_{Read more: cointelegraph.com}

Oil Data Firm Platts Rolls Out Commercial Blockchain Platform

Energy markets data provider S&P Global Platts has announced the commercial deployment of a blockchain platform for sharing oil inventories in the United Arab Emirates (UAE).
_{Read more: www.coindesk.com}

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